The V8’s output rises to 460 horsepower and 420-pound-feet of torque, from 435 and 400 for the 2017 Mustang.

The new engine and transmission are among a number of updates Ford gave the Mustang to keep fresh this year. A new drag-strip mode manages the drivetrain electronically so torque doesn’t drop as the transmission runs quickly though its gears.

The 2.3-liter EcoBoost turbo engine also gets quicker, hitting 60 m.p.h. in what Ford promises will be less than 5.0 seconds. The 2.3-liter adds torque and the 10-speed automatic — which has been available in the F-150 pickup since last fall — and 30 more pound feet of torque, to 350.

Ford has dropped the less-powerful 3.7-liter V6 that was previously the Mustang’s base engine.

The GT’s 0-60 time requires an asterisk: Being the fastest Mustang GT does not necessarily make the new model the fastest Mustang ever, just the fastest with the base V8. High-output V8s in Shelby models of the Mustang have included the 662-horsepower Shelby GT500 and the current 526-horsepower Shelby GT350.

2018 Mustang(Photo: Ford Motor Company)

However, the claimed sub-4.0 second time should give the Mustang GT an edge over its archrival, the V8 Chevrolet Camaro SS, which reports 4.0 seconds flat.

Drag mode is one of five performance programs the 2018 Mustang will offer. The new 10-speed transmission has quicker shifts and better low-speed response than the outgoing six-speed automatic.

Ford will reveal prices and fuel economy for the 2018 Mustang closer to when it goes on sale this fall.